WREXHAM'S ASTONISHING FINANCES MADE PUBLIC AS RYAN REYNOLDS' TRUE VALUE EMERGES

Wrexham's annual turnover has soared to a staggering £26.7million, largely due to the global interest sparked by owners Ryan Reynolds and Rob McElhenney. The Welsh club witnessed a 155 per cent surge in the financial year ending June 2024, a significant leap from its turnover of approximately £10.5m in 2013.

The club's officials have mostly credited this jaw-dropping sum, thought to be a record for a then League Two team, to the publicity garnered by the Welcome to Wrexham documentary. The series' popularity has also enabled Wrexham to secure commercial partnerships with companies such as United Airlines and HP, resulting in a sharp rise in sponsorship revenue from £1.9m to £13.2m.

However, despite these impressive figures, documents obtained by Wales Online reveal that Wrexham still posted a loss of £2.7m during the 12-month period. The figure is lower than the £5.1m deficit recorded in 2023, with the club's latest accounts indicating that £824,000 of the recent losses were incurred due to bonuses triggered by Phil Parkinson's team's promotion to League One.

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In another significant development, it has been separately confirmed that loans worth £15m provided by Reynolds and McElhenney have been repaid in recent months. The clearance of the debt followed the introduction of the New York-based Allyn family as new minority investors in October and several large share issues.

The Emmy-awarded television series about Wrexham has significantly bolstered the club's finances since the two actors took ownership in February 2021. With recording for the fourth season nearing completion, there is talk of reassessing the owners' long-term vision to ensure the club's viability, particularly if the documentary series does not continue.

The expansion of the Racecourse Ground is a central element of their strategy, especially after Wrexham Council greenlit plans for a new 5,500-capacity Kop stand. Construction is set to commence in the summer, with Wrexham currently positioned second in League One and on the cusp of potentially securing a third consecutive promotion.

Club officials said: "A strategic review of the club's mission statement will be undertaken, following the success to date of the club, however the principles won't materially change. The specific emphasis remains the same, to deliver success on the pitch and take each of the club's senior teams through their respective divisions at the earliest opportunity."

"The directors are taking the relevant action to ensure that the long-term sustainability of the club can be achieved and not anchored purely on playing success or the continuation of the Welcome to Wrexham documentary.

"Increasing the capacity at the Racecourse Ground is a fundamental requirement of creating a long-term business plan for the club along with putting in place a staffing structure of suitably qualified individuals that will enable the maximising of all the opportunities available to us."

One of the reasons for the club posting a loss was increased expenditure on its wage bill from £6.91m for the previous 12 months to just over £11m. Additionally, Wrexham incurred almost £5m on legal and professional fees, some of which went to two companies owned by Reynolds and McElhenney.

Officials have disclosed that funding was allocated to More Better Industries and Maximum Effort for the purpose of promoting Welcome to Wrexham and managing commercial agreements within the US. The financial records also show a significant shift in Wrexham's revenue sources, with 52.1 per cent now originating from overseas, predominantly North America, as opposed to 47.5 per cent from the UK, with the rest coming from Europe.

Reflecting on a triumphant season in League Two last term, the club's financial overview states: "The 2023/24 season was one that brought success on the pitch for the men's team who achieved promotion from EFL League Two, having achieved promotion from the National League the season before.

"Following the early announcement that the Welcome to Wrexham documentary would be continued for a third series to cover the events on and off the pitch for the 2023/24 season, this enabled the club to achieve further commercial growth."

"The documentary, while not delivering any direct financial return for the club, provides us with a marketing platform that can be monetised through the delivery of TV exposure for our partners and is our 'point of difference'."

The club added: "Turnover for the year was £26.725m (2023: £10.478m) which we believe to be a record for any club in League Two. As noted below the popularity of Welcome to Wrexham and the engagement by its viewers are the biggest factors in the 155 per cent growth, followed by the additional revenue generated from the EFL over those received in the National League."

It's anticipated that Wrexham's most recent financial records will be fully released early next week.

2025-03-27T09:14:43Z